October 19, 2022
Public Statement for the Supporters of Olympique Lyonnais
I understand the completion of our acquisition of your beloved football club is taking an unbearably long period of time. The needs of a football club and its supporters are often time sensitive and the matter of Olympique Lyonnais is certainly no different. That said, please know that transactions such as this can be quite complicated for both buyers and sellers, and it is not uncommon to discover hurdles on the path to a closing that create complexities and delays. As we are now quite close to completion, please know that we have done everything to overcome all of the usual challenges of this transaction as efficiently as possible. It may seem like a long time in football terms, but the time to close that we are experiencing is actually quite normal for sporting club and other complex acquisitions.
As an update of where we stand in our process:
We are fully prepared to complete the acquisition of the majority interest in Olympique Lyonnais Groupe ("OLG").
Our lead financial partner has been secured and stands ready to finance Eagle Football to buy the majority interest and provide additional capital to OLG.
Subsequent to our June 2022 announcement, we were asked by OLG’s banks to contribute additional monies to partially repay debt, and we now have secured incremental funds to also satisfy this request.
We were also asked to negotiate directly with one of the OLG banks to secure their support for the transaction. After several weeks of amicable negotiations, we can now confirm that we have resolved the issue, reaching a final agreement with, such financial institution and we securing their consent for the transaction.
As part of this financing process, we have secured the support of additional equity partners, including leading financial investors and sporting club owners, who will contribute equity capital alongside me, to join Eagle Football on its journey and provide Eagle with greater financial flexibility to support its clubs.
The imminent closing of the OLG purchase by Eagle Football is now subject to customary final closing processes, which include the completion of final documentation with our equity investors, the related approval of certain football governing bodies, and the required reviews and approvals of the OLG banks.
We believe all parties and related legal representatives are working at great haste to complete these processes and approvals as quickly as possible. We look forward to our Eagle Football family joining the Olympique Lyonnais family and supporting the club alongside you in the immediate near future.
With my warmest regards,
John Textor
Chairman
Eagle Football Holdings Ltd.